This is the age of digital markets in which the businesses have started working from the online platforms reaching millions of customers on a worldwide basis. Electronic commerce has emerged because of the boom in information technology. That has led to the development of online shopping stores. Therefore, thousands of companies are shifting to online mediums for doing their business. Hence ecommerce has unlimited potential in the future. So, you may consider running your own electronic store. However, launching your own electronic business may not be a very easy process. It requires plenty of planning and hard work to set up your e-business. For this purpose, we are providing an ultimate guide to start your ecommerce store that can lead to profitable income.
Before we guide you about how to start your ecommerce store we will tell you about its scope and how it is revolutionizing the market.
Scope of E commerce Services
The technology is improving at a fast speed. With the arrival of devices like smartphones, tablets and personal computers having internet access, the boundaries of the ecommerce services market are broadening every day. The usage of gadgets with internet access has allowed people to do online shopping. Increase in the population of tech-minded people, internet-speed and web accessibility has led to the progress in eCommerce.
According to research by a leading ecommerce marketing agency, world-wide online sales have increased starting from 11% in 2016 to 13% in 2017. Internet sales again reached 15.2% of total global sales in 2018. With overall sales of whopping $2.86 trillion on the internet in 2018. The sales were $2.43 trillion the year before. All these facts and figures show that e-commerce has immense scope and market on a global basis. There was an extraordinarily low increase in global retail sales and purchases throughout the world in 2018. However, it allowed the internet-based businesses to flourish. Indicating that ecommerce services will receive consistent gains in the market.
After discussing the highlighting aspects about the scope of ecommerce we will like to tell you about how you can start your e-store.
1. Search Products you want to Sell
The number one step in developing your ecommerce business is searching for what type of items you want to sell from the e-store. This is the most difficult point of the e-store setup process. Once you have researched the market for trending products and selected the one that suits your area of sales expertise you are all good to proceed.
2. Do Analysis of Product Ideas
After you have determined which product you want to sell. You have to perform its evaluation so that it doesn’t flop in the market. So, try making a few sales and analyze the market for the demand to see if the product is famous. You can also search for the competitors and how their sales are to find out if the product will be successful. This is a good way of finding out what type of ecommerce services you will be providing to your customers, like drop shipping or offering 24/7 customer support. It is all based on your product type.
3. Purchasing the Product
Once you have found out the product you want to sell, the next step consists of searching, from where and how you will buy your items. Few best places for purchasing your products are online directories and Google. You can also visit local libraries and ask for referrals in your professional and social network. We are providing information on them below:
Online directories: Few top sources of product supplies can be found from online suppliers directories. They consist of records on thousands of manufacturers, supplies and bulk sale companies.
Google: Google can be a helpful tool in searching for supplies. Search for terms like manufacturers or distributors on the search engine.
Local library: Visiting local libraries can assist you in finding supplies. They may have a list of internet-based businesses and manufacturers.
Social Network: You can also talk to your friends and contacts about where to find the supplies.
4. Study your Competitor
After you have obtained your supplies you can study your competitors for finding out how good you should be to make effective sales.
5. Write a Business Plan
Once you have analyzed your competitors, you should write a proper business plan, it will contain all the information about how much time, money and resources you will invest in your business.
6. Give a name to your Business
You can give a name to your business by thinking of short, simple and creative terms. Moreover, you should also think of obtaining an online domain for your company and making a website. Later this business name will be helpful in your product sales and promotions when you want to market your products by an ecommerce marketing agency. So select a name from a marketing point of view.
7. Create your E-store Logo
You can make your ecommerce store logo now. It can be made by using plenty of online logo generators. Or you may contact a logo designing company that designs logos for ecommerce services related to product sales.
After your e-store logo has been designed, the next task is to structure your website pages according to SEO and promote it on the internet for better search engine ranking.
9. Build Your Ecommerce Store
When you are done with SEO of your website you can work with building your e-store. You should know what type of products you should have in stocks and their quantity and how to photograph and add them in e-store.
10. Launch Your Ecommerce Store
Launching your customer store consists of sales and promotions. When your store is launched it is fully ready to make sales. The SEO work done before will lead to sales of your products.